Keep an Eye on Gold

Alchemist

Administrator
Staff member
#1


Gold is the only major commodity that hasn't done much in this bull market.

Gold will become bullish above $1365-$1370 and may move by as much as $300 in few weeks or months.

The red line in the above chart is the last closing price. 1365 level is slightly above the red line.
 
#4
What is the general opinion of members on the outlook for Gold in the next 2-3 years? Any it is worth investing, what is the best (non-physical) way to invest?
 

Alchemist

Administrator
Staff member
#6
I feel gold has a "bright" future.

In the west, politicians refuse to let economic cycles run their course.

That means every time thier stock markets crash and economies slow down, the west will print more and more money.

Sooner or later, the excess money will find it's way into gold and create a gigantic up move (just like silver had in 2010 and 2011).

I expect gold price to cross 200000 INR in the next 8-10 years (partially added by depreciation of the INR).
 
#7
I feel gold has a "bright" future.

In the west, politicians refuse to let economic cycles run their course.

That means every time thier stock markets crash and economies slow down, the west will print more and more money.

Sooner or later, the excess money will find it's way into gold and create a gigantic up move (just like silver had in 2010 and 2011).

I expect gold price to cross 200000 INR in the next 8-10 years (partially added by depreciation of the INR).
What is the best non-physical way to invest?
 
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Alchemist

Administrator
Staff member
#10
Do you think Soverign Gold Bonds are a good way to invest? @Alchemist
Yes, of course as there is a tax advantage and also one gets extra "interest".

@Alchemist, the price 2 lakh is per 10 g gold you are referring to ?
Yes Rs 2 lac per 10 gram.

The west will print more money every time the economy stalls or the stock market stalls.

Sooner or later hyper-inflation will take over and devastate the savers. I see gold as the only savior.

Another $1.5-$2 trillion stimulus is coming in the US.

Europe will follow (if all member states can agree upon the terms) else European economy will collapse. Both cases are bullish for gold.

Senate Republicans are targeting the new stimulus closer to $1.3 trillion in total spending. House Democrats proposed $3 trillion for the Heroes Act (which hasn’t passed the Senate). While the numbers likely will change, the final stimulus package could be in the $1.5 - $2.0 trillion range. Congress breaks for summer recess on August 7, which means that the new stimulus could be finalized later this month or in early August.
https://www.forbes.com/sites/zackfr...nd-stimulus-checks-unemployment/#602153bfce90
 

Alchemist

Administrator
Staff member
#11
Right now gold and silver prices are going through the roof.

It seems like a short-term euphoria to me.

The funny thing is that the retail investors who are holding physical gold/silver are unable to take advantage of the rally as they can't cash out.

Here in my city, most jewelers are refusing to buy silver/gold because of a cash crunch and lack of demand. Most want customers to buy something in return.

Those who are willing to buy are offering a discounted price.

This was the case even earlier too, but some small jewelers were buying old gold/silver jewellery. Even those smaller ones have stopped buying now.
 
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